An Overview of Stable Crypto Tokens

The high volatility of digital currencies is the reason why using another digital coin as a unit of account is not the best idea. For example, Bitcoin’s price changed by 10 percent in one day, while Ethereum’s price changed by 20 percent in a single day several times. A stablecoin is an asset that has price stability characteristics making it suitable for use as a unit of account and store of value. Some of the leading stablecoins are described below.

TETHER – USDT

Tether is a cryptocurrency asset issued on the Omni Layer blockchain — a fork of the Bitcoin blockchain — that is backed 1:1 with a U.S. dollar in the reserves of Tether Limited. USDT is the most popular stablecoin on the market, showing its transparency on https://wallet.tether.to/transparency.

There is no fee for transferring USDT between wallets, while the fee for transferring to a bank account is 0.1 percent of the total transferred or $20.

DigixDAO

Just as USDT is backed by U.S. dollars, DigixDAO is backed by real gold. Established in 2016 in Singapore, it is one of the first Ethereum-based projects with two tokens: the DGX token, where 1DGX = 1 gram of gold, and DGD tokens that give you the opportunity to pledge on DigixDAO with the goal of increasing DGX adoption and fluctuate based on exchange rates and market forces. As far as transparency goes, there is no way of verifying it online, but Inspectorate Bureau Veritas “provides quarterly audits of every single Gold asset in our Safe House vaults.”

DigixDAO fees for transferring from wallet to wallet are 0.13 percent of the total amount in addition to a demurrage fee of 0.6 percent whereby 0.2 percent goes to DigixDAO and 0.4 percent goes to the storage.

OROCOIN – ORG

OroCoin is a unique cryptocurrency that is on its way to becoming a new gold standard in the industry. With a Scrypt PoW consensus algorithm, it promises to reward every mined block with the following formula: price of gold at the time of mining x 1 OroCoin/100. This will halve every 800,000 blocks (price of gold at the time of mining x 1 OroCoin/200). For example, if the price of gold is currently $1,143, then the block reward will be 11.43 OroCoins.

GOLDBLOCKS

GoldBlocks is an affiliate company that sends out a daily commission on your investments depending on your level on its chart.

For 365 days, you can receive up to 0.9 GB per day for $100 invested, 4.5 GB for $500 invested, 9 GB for $1,000 invested and so on. The more you invest, the higher level you reach, the more money you earn. You can also benefit from other people joining through the affiliate program. Find the full chart and more information on the payouts at https://mygoldblocks.com.

XAURUM

Xaurum is one of the first gold-backed cryptocurrencies. It represents an increasing amount of gold and can be mined cooperatively and profitably on the Goldmine. Xaurum is coined by exchanging the mined value of physical gold that is stored as the CommonWealth gold reserves. It was initially coined on a PoS Blackcoin blockchain before transitioning to Ethereum.

Xaurum doesn’t provide an opportunity to buy back XAUR coins for fiat money, but you can “melt” your coins to receive physical gold.

The minimum transaction fee for sending XAUR coins is 0.00061213 ETH. However, if you wish to “melt” your coins, additional fees will be required (0.5 XAUR per transaction) in order to secure the international transport of the gold — depending on the quantity and your location.

ONEGRAM

OneGram is a gold-based cryptocurrency predicated on Sharia and Islamic finance. It is creating its own payment gateway called YalaPay and issues a custom MasterCard linked to a user’s OneGram wallet. Each OneGram coin is backed by one gram of 999 standard gold, with the OGC’s price being calculated by the following formula:

Each OneGram transaction generates a 1 percent transaction fee topping out at a maximum of 1 OGC, and every OGC can be exchanged for physical gold. With that said, there is no information regarding the fees of this operation.

OzCoinGold

OzGold is a U.S. company built on Ethereum’s blockchain that has 100,000 oz (approximately 2800 kg) of gold secured and stored in an Australian gold storage facility with no storage fees. There are a total of 10,000,000 OzGLD coins.

As far as the fees go, even if we don’t have an exact number, there is the following statement on OzGold’s website:

“Transaction fees are lower that any alternative way of purchasing gold and zero fees payable on initial purchase from www.ozgld.com.”

Although the currency is backed by gold, you will not be able to exchange it for a period of five years, starting on March 1, 2017. However, you are the sole and 100 percent anonymous owner of the gold and can freely transport it over any border.

Royal Mint Gold

Royal Mint Gold, or RMG, is the name given to a new gold investment product that will be provided by The Royal Mint. This product is real gold that is stored in The Royal Mint vault and traded on a digital trading platform provided by CME Group. The Royal Mint will not sell RMG directly to consumers, but its new product will instead be available to investors through third-party intermediaries such as banks and brokers.

To make RMG possible, the world’s leading mint exporter has partnered with Chicago Mercantile Exchange (CME Group), the largest and most diverse derivatives marketplace in the world. CME Group has developed the trading platform that RMG will be traded on and has been working with partners AlphaPoint and BitGo to develop the technology and blockchain ledger. The trading platform and blockchain technology allow gold to be traded in a real-time, cost-effective and secure way.

RMG will be physically inspected and certified by independent auditors at least every six months.

“The physical gold that the RMG in issue represent is held on an allocated basis in a secure vault and is owned by the RMG holders. The Royal Mint acts solely as custodian of the gold which can delivered to a RMG holder at his/her request. The Royal Mint has no claim on the gold.”

GoldMint

GoldMint is a blockchain-based platform that uses GOLD digital assets, which are 100% backed by physical gold. The company plans to bring a stablecoin to the turbulent world of cryptocurrencies.

GoldMint will have two tokens issued, the main one being the GOLD cryptoasset that is 100 percent secured by physical gold and ETF. The second token, MNT, is going to be used by miners as a stake to create a block and include it on the chain. Miners will receive 75 percent of transaction fees included in confirmed blocks.

Initially, GoldMint will sell MNTP(MNT pre-launch) tokens issued during the ICO on Ethereum’s platform, and as soon as GoldMint’s blockchain is ready, all MNTP holders will be able to exchange them for MNT.

The company is creating Custody Bot, a vending machine that is intended to receive, appraise, store and deliver physical gold. Custody Bot is planned to be fully automated, connected to blockchain and used as a replacement for current pawnbrokers.

GoldMint is quite different from the other stable coins that are around. The platform has realized that there needs to be a connection between the physical and the virtual world for an economy to flourish, as the digital assets are used to meet the needs of real people in their day-to-day lives. With Custody Bot, the platform has created the much-needed interface between both worlds.

By way of implementing Custody Bot, the platform has given more control to the users to handle both “real” gold and GOLD tokens themselves, without having to rely on some reserves, claimed to be held by the platform in an undisclosed location.

Since the inception of the internet in the late 80s / early 90s, its usage has soared. Estimates as of June 30, 2017, put internet use at 3.89 billion users, or 51.7% of the earth’s population. That’s right, more than half of the world is on the internet.

With this rapid growth in internet usage comes a drastic increase in functionality too. The web has developed from being a way to upload information to a medium over which products and services can be exchanged. For Q2 2017, E-commerce sales accounted for 8.9% of total sales in the US alone. The rate has been steadily rising for every quarter since 2008, despite the impact of the global financial crisis.

Online marketplaces like Upwork and Etsy entered the scene several years ago and are still active with millions of users. Ikea made headlines by acquiring Gig economy company TaskRabbit, which provides handymen to assist with various manual labor tasks.

With the advent of such companies, the online service industry is waiting for the next big thing, the next eyecatcher. CanYa, a blockchain based platform that was created in December 2016 in Australia, hopes to be the online marketplace the world needs.

CanYa is a cryptocurrency based online marketplace where service providers can connect with customers. The decentralized nature of the platform allows sellers to interact with end users directly–a truly peer to peer experience. As blockchain technology continues to revolutionize a variety of industries, the team at CanYa has set their sights on online service marketplaces.

A Decentralized Marketplace Means Better Options and a Better Price

CanYa’s platform operates as a decentralized exchange. Users connect directly, eliminating the third party who hosts transactions. There is greater transparency in pricing in addition to lower costs. To use an analogy, it is similar to how buying a car through a dealer is almost always more expensive than buying directly from a private party.

On the blockchain platform, providers can list, advertise, and sell their services at the price they want. They can choose from a variety of fee models, including one-time transactions and ongoing subscriptions. The platform is based on meritocracy–better providers will get more business and visibility, which promotes legitimate business and minimizes false advertisement.

On the flip side, buyers can filter services and choose the service and model that best suits them. They have the option to make one-time purchases like repairing a broken window or selecting ongoing maintenance programs like lawn mowing or hedge trimming.

Potential buyers are free to search for the services they need while resting in the fact that pricing and transactions are transparent and secure. Because the platform runs on blockchain technology, all transactions are verified and auditable, giving users a sense of whether or not the prices being advertised are fair.

Though blockchain technology can seem nebulous and exclusive, CanYa runs as an app downloadable on major smartphone app stores. The seamless and practical app lets users find each other quickly and efficiently, all while providing stability and transparency.

As an online marketplace, CanYa provides more flexibility and security than traditional, centralized online marketplaces. And by cutting out the middleman, CanYa provides more service options at better prices.

Cryptocurrencies’ Nagging Issue: Volatility

Cryptocurrencies are a bright prospect. Free from government overreach and central bank manipulation, they are operated on a truly free market basis. However, cryptocurrencies are plagued with historically sky-high volatility. Perhaps that’s a huge understatement. It’s not uncommon for a cryptocurrency to get cut in half in a single day.

This has understandably led some to wonder how services can be paid for with such a volatile asset. In response to these legitimate concerns, CanYa’s platform has incorporated an internal hedge.

CanYa’ s contract uses a coin with a proven value to act as collateral for CanYaCoins. Thus, the value of the coins used in transactions are frozen–one dollar in means one dollar out, no matter what price fluctuations transpire. The hedge is able to compensate for 0.8 downside risk, while any losses sustained beyond the threshold are partially covered.

The result is users’ peace-of-mind. Buyers and sellers can transact business as usual without having to worry about losing money for something they can’t control. The proprietary system is a welcome addition to an already stalwart platform.

ICO Coming

CanYa released its beta into Australia on its own dime in December 2016. However, in order to meet their long-term objective of providing global access, CanYa needs to raise additional funds. The ICO, which begins in a few days, will help finance a cryptocurrency payment layer.

Proceeds will also be used to help fund the global launch in March 2018 along with the second version in July 2018. This version will include in-app translation services, video calling, chat-bots, and advanced desktop features, in addition to bug fixes and platform upgrades.

Finally, CanYa hopes to roll out its advanced matching feature, which connects best customers with the best providers for each request. It is slated for an October 2018 release.

Crypto-industry giants Coinbase announced earlier today that they have done away with their unpopular policy of making buyers wait to receive their cryptocurrencies. In a blog post this afternoon, director of communications David Farmer explained that many customers in the US funding purchases directly from their bank accounts would now receive coins instantly. He wrote:

We are excited to announce the ability for customers to instantly purchase digital currency using a U.S. bank account. Previously, customers who purchased using a bank account had to wait several days before receiving their digital currency. Customers can now buy up to $25,000 and receive access to their digital currency immediately.

The waiting period that Farmer describes was due to lack of assurances that customers indeed had the funds they said they did in their accounts. Zach Abrams, Head of Product at the San Francisco exchange describes how the company have been working towards allowing instant purchases for some time:

Coinbase uses proprietary fraud prevention systems it has developed over the last 5 years, to determine how this instant purchase feature is rolled out to groups of customers and that the customers with access to this feature have sufficient balance in their bank account with good purchase history.

Whilst the company did previously offer a real-time trading option in GDAX, many customers found the professional and complex platform daunting, and as such casual traders are put off from using it. What’s more, although crypto purchases on GDAX are instant, the account still must be pre-funded, and this too can take days.

Today’s announcement to extend instant purchasing to users of the standard Coinbase service will likely excite those wishing to trade casually. It should also help alleviate the frustration of having funds locked up in an asset with which customers can do nothing with for several days. It was an oft-repeated complaint of Coinbase customers who had purchased cryptocurrency only to see the value crash soon after leaving them no option but to hold, even if they wanted to sell it on quickly before a small loss became a big one.

The decision is likely to impact those cryptocurrencies which users of Coinbase can purchase using the platform. These are Bitcoin, Ethereum, and Litecoin. It’s likely that the move will result in even greater liquidity in the market, and this in turn will send prices even higher. We’ve already potentially seen some evidence of this in action. The price of Litecoin experienced 12% gains earlier today at around the time of the announcement.

Real Estate is the largest asset class in the world, and also one of the most efficient. The identity of people has a lot to do with the land that they own or occupy. This is an idea that spans over several centuries. Therefore, the transference of these pieces of land comes with a lot of value attached to them.

Existing Complications

The ownership of landed properties in today’s world comes with a lot of implications. In most cases, real estate ownership is either directly or indirectly reserved for an exclusive few. In some cases, lands are owned or reserved based on cultural arrangements, where the right to land rests in the hands of community leaders who hold such properties in custody until they are sold or rented to other individuals. Another factor that determines the exclusivity of landed properties is the cost of owning one.

In today’s world, real estate is scarce and expensive, and the traditional property market is littered with a lot of discrepancies. With technological advancement and the growth of sharing economy, most individuals are no more inclined to the outright buying of whole properties. They rather rent them from owners who may not be using the properties for such periods or buy only a fraction of it for themselves.

Addressing the Problems

For an effective development of this innovation in the real estate market, ATLANT is providing two main features to address known problems in today’s global real estate: Tokenized Ownership and Peer-to-Peer Rentals.

Tokenized ownership will simplify every type of operation with the real estate, including property investments and ownership transfers, either partial or complete. Real estate tokens representing a share in property ownership will allow for a liquid real estate market with transparent prices (price discovery).

Until now, transactions within the real estate market has involved a lot of complications that are mostly as a result of intermediaries who take advantage of the high values market. Fake reviews and high transaction fees are some of the headaches encountered by both buyers and sellers in the real estate market.

ATLANT’s blockchain platform is designed to solve the protracted problem of discrepancies and fraud in the real estate market by registering property on a distributed ledger. This would streamline the manually intensive practice of examining public records when validating titles in real estate transactions, and also double as a cost reduction procedure by eliminating most of the existing overheads. According to Goldman Sachs estimates, blockchain driven property records could drive up to $4bn in cost savings due to reductions in headcount and actuarial risk in the US alone.

A Market for Everyone

With the market dimension that is being introduced by ATLANT, anyone can own any property from anywhere in the world, either partially or in full. On its decentralized exchange, tokenized properties will enable a completely liquid market and listed assets will be available to be bought using the Atlant (ATL) tokens. All Atlant (ATL) tokens are essentially membership certificates in the ATLANT Platform, which give numerous rights and privileges to their owners. These owners must comply with KYC/AML policies of ATLANT and proof of member activity confirmed by running an ATLANT node on the member’s computer.

In the existing centralized sharing economy, rental platforms like Airbnb, Expedia, and Booking, significant fees exist on both ends (tenant and lessor) and reviews are dependent on the owner’s assessment. ATLANT’s decentralized platform takes away all of that. Here, transactions are Peer-to-Peer, therefore intermediary fees are eliminated while the property details and other procedures are available on the blockchain for a transparent public review.

Changing the Old Ways

This disruption introduced by ATLANT will weaken the pricing power of traditional hotels, Airbnb, Booking, Expedia, with a greater impact on leisure-oriented hotels and lower-price-point hotels focused on a lower value-added product offering, while at the same time increasing RevPAR (revenue per available room). This will totally change the operational procedures in the real estate market and open it up for more opportunities as the existing barriers in the form of pricing, location and fraud are bound to become a thing of the past.

Things are moving too fast for us to waste any time on the bitcoin price action we have seen during the session today in the bitcoin price out of Europe because, if we do, we are liable to miss a potentially rewarding entry opportunity. We have set up some levels that we are hoping to use to take advantage of the fast action volatility during the session this evening and, beyond, into the Asian session tomorrow morning, and with any luck, we will see a continuation of this sort of momentum near term.

So, let’s get our levels outlined so as to not miss any opportunity and to give readers an idea of where things stand in the market right now and, additionally, where we intend to jump in and out of the markets on any forward volatility.

As ever, take a quick look at the chart below before we get started so as to get an idea of what is on and where we are looking to as far as entry signals are concerned.

It is a five-minute candlestick chart (a slightly wider timeframe than normal) and it has our key range overlaid green.

As the chart shows, the range we are looking at for the session this evening comes in as defined by support to the downside at 5186 and resistance to the upside 5351. We are going to stick with our breakout strategy for this evening, as mentioned above, so we will look for the following entries:

Entry one is signaled by a close above resistance, which will get us into a long trade towards an immediate upside target of 5400. A stop loss on the trade at 5270 works to define risk nicely.

Entry two will signal if we get a close below support, at which point we will enter short towards a downside target of 5100 flat. A stop loss on this one at 5220 does the job.

Earlier today, on October 12, the Bitcoin price achieved a new all-time high at $5,220, despite the uncertainty surrounding the SegWit2x hard fork in November.

Subsequent to the recent surge of the Bitcoin price, Samson Mow, the chief strategy officer at Blockstream, the blockchain technology development firm, reaffirmed his interim price target of $6,000 by the end of 2017.

Just a reminder. $BTC at $6,000 by year end should be no problem if SegWit2x either doesn’t happen, or if it adds strong replay protection. https://t.co/L4Ctkqk52m

The SegWit2x hard fork could play a vital role in the short-term trend of the Bitcoin price. As of current, the demand for Bitcoin from supporters of both the original Bitcoin blockchain and SegWit2x is driving the price of Bitcoin upwards.

Investors and traders who believe that the SegWit2x hard fork in November would still result in the original Bitcoin blockchain or legacy chain remaining as the majority chain would invest in Bitcoin to assert their confidence in the short-term trend of Bitcoin. But, a small portion of the Bitcoin community that believes SegWit2x will become the majority chain in November would also invest in Bitcoin as it is the only method of receiving SegWit2x coins, of B2X.

As Alistair Milne, a prominent Bitcoin investor and a partner at the Atlanta Digital Currency Fund, the probability of SegWit2x emerging as the majority chain is slim. Already, even Chinese mining pools like F2Pool have withdrawn their support toward SegWit2x, regardless to their previous commitment to the SegWit2x proposal.

As Mow noted, the decrease in support towards SegWit2x would likely result in the Bitcoin price entering the $6,000 region, especially if the current upward momentum could be sustained in the next few weeks. More importantly, Bitfinex and Coinbase, two of the largest Bitcoin wallet and trading platforms in the global Bitcoin market, have clarified that they intend to list the original Bitcoin blockchain as “Bitcoin” and “BTC,” even if SegWit2x surpasses the Bitcoin blockchain in terms of hashrate.

While the community is opposed to hashrate being used as a sole indicator to justify the majority chain, even if SegWit2x gains majority support from miners, if users and investors remain on the Bitcoin blockchain, miners will inevitably have to move back to the Bitcoin blockchain, as demonstrated by Bitcoin Cash.

“It is the investment community; the traders, holders, users, etc, that put money into Bitcoin. Miners are for-profit organisations and therefore slaves to economics & subservient to the investors. They simply cannot and will not mine a coin at a loss for any length of time. Miners follow the money, they do not lead the money. This has never been illustrated more clearly than by Bcash and the joke that is their difficulty adjustment algorithm,” wrote Milne.

If institutional investors continue to express their optimism toward Bitcoin and the support for SegWit2x declines, the Bitcoin price would be able to position itself for another strong rally.

Including today’s candlestick, we can conclude that the last 3 candlesticks were presentative of a horizontal consolidation resulting into dojis. The technical term for such formation is a “spinning top”. In the real sense, there was reduced volatility and participation levels remain flat over the same period as shown by below average volumes. Furthermore, the price is still oscillating within 09.10.2017 Hi-Los-a tight $9 range. However, chances of a break below temporary support of $25, and a consequent bear trigger remains high. Sellers should actually begin selling and aim at $20 and $14 respectively. A reliable stop loss should be placed above today’s highs at around $30. Refer Figure 1 (above): NEOUSD-Daily Chart-12.10.2017

DASHUSD TECHNICAL ANALYSIS

Figure 2: DASHUSD-Daily Chart-12.10.2017

Yesterday’s and today’s candlesticks ended up testing support turned resistance trend line and the 20 period MA as price moved higher above $315. It is also likely that today’s candlestick might end up as a doji with a long upper wick meaning sell pressure. If sustained, then we retain our bear forecast and enter short in short time frames-I recommend 4hr chart and nothing lower by the way. I will reiterate that any bullish price close above $320 accompanied by a sharp bullish volume spike means canceling our short projections. Overly, I remain bearish and the recent DASH appreciation offers a perfect shorting opportunity. Sellers should enter short, place a stop loss above $320 and aim at $220.

IOTUSD TECHNICAL ANALYSIS

Figure 3: IOTUSD-Daily Chart-12.10.2017

At the end of the day, the resistance trend line drawn from 30.09.2017 and 08.10.2017 highs managed to reject further price appreciation. With a highs of around $0.49, yesterday’s candlestick closed as a doji and was followed by further price erosion today. $0.45 is our support and it is likely that it will be broken. If it happens, sellers should initiate positions with a stop loss above $0.50 and aim at $0.30 which is another resistance turned support.

MONERO-XMRUSD TECHNICAL ANALYSIS

Figure 4: Monero-XMRUSD-Daily Chart-12.10.2017

I had to zoom this out for you to clearly see. One thing is for sure, there was a clear break below support trend line on 09.10.2017 and that constituted a bear break out. No doubt about that. Secondly, as a feature of a breakout, there must be a retest. The support turned resistance trend line was retested on 10.10.2017 and 11.10.2017 at around $86. Today price reached a high of $89 but then look at the sell pressure. Bears are jumping in and driving prices lower as shown by that long upper wick resulting in a temporary inverted hammer as the day progress. Given these technical formations, I’m net bearish.

LSKUSD TECHNICAL ANALYSIS

Figure 5: LSKUSD-Daily Chart-12.10.2017

Over the last 4 days, a classic Evening Star reversal pattern was formed. In fact, with a high of $5.5 on 11.10.2017, price action tested the all-important support turned resistance trend line. This level of resistance defines price action trend in the short term. As indicated yesterday, it is imperative for prices to stay below $5.5 if bears are to profit. Today, prices trended even higher testing $5.9. However, candlestick characteristics show that price was quickly rejected and sellers jumped in as shown by that long upper wick. Price is currently just below the daily resistance trend line and the 20 period MA at around $5.2. Further depreciation means that daily resistance level holds and we continue selling.

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View

Banks all over the world have been opposing Bitcoin for several years now. Not only do they advise against buying cryptocurrency, but they take invasive measures as well. Several banks have closed customer accounts for their involvement in cryptocurrency. PNC Bank appears to be on this list as well as we speak. They are actively calling up customers to make them clarify Bitcoin purchases.

It is evident buying Bitcoin through a bank account has always been problematic. Using a centralized exchange means users need to send wire transfers to buy cryptocurrency. In most countries around the world, this activity is just perfectly fine. However, some financial institutions are trying to take some drastic measures. PNC Bank is setting a very dangerous precedent in this regard. The bank is going after people who buy or bought Bitcoin.

PNC Bank is Playing a Dangerous Game

Such an attitude is not warranted, although it isn’t strange either. PNC Bank wants to figure out why people are buying Bitcoin. Failing to respond in a proper manner may result in account closure, though. This aggressive attitude isn’t what bank customers are looking forward to, that much is certain. Apparently, the bank sees Bitcoin purchases as “unusual activity”. An interesting take on things, that much is certain.

While people often buy Bitcoin for legitimate reasons, PNC Bank shouldn’t invade privacy like this. It is not in their best interest to figure out how people are spending their money. Moreover, they shouldn’t try to tell people how to spend their money either. It is this degree of financial restriction which drives people to Bitcoin these days. It is evident the bank wants nothing to do with Bitcoin, though. This ignorance regarding financial innovation is getting out of hand pretty quickly.

Solving issues like these will not be easy by any means. Banks such as PNC Bank will remain opponents of Bitcoin for the foreseeable future. They don’t want cryptocurrencies to succeed, that much is evident. Existing laws also force them to prevent any type of potential illegal activity they will be held accountable for. Rest assured we will see more of these issues pop up as time progresses. The banking sector is struggling and cryptocurrencies are booming. The situation cannot go on indefinitely.

Today is a big day for bitcoin. Anybody that caught yesterday’s analysis will know that we highlighted the 5000 mark as a key level to watch going forward. Specifically, we noted that if we saw a break of that level, we would almost certainly see a run towards 5100 and likely beyond based on fact that stop losses were being taken out (in a sort of short squeeze fashion) and that we would see some speculative volume flow towards bitcoin based on an increased media coverage given that a key level has collapsed.

As it turns out, that’s exactly what happened.

Price broke through this level early during the European session and we were ready to jump into a nice long road towards 5100 as and when it happened.

Anyway, we got what should be a pretty interesting session ahead of us, so let’s get some levels in place that we can use to try and draw a profit from the market whatever we see today.

As ever, take a quick look at the chart below before we get started so as to get an idea where things stand and where we are looking to get in and out markets as and when things move during the session. It is a one-minute candlestick chart and it has our key range overlaid in green.

As the chart shows, the range we are looking at for the session today comes in as defined by support to the downside at 5075 and resistance to the upside at 5186.

Our standard breakout rules apply for the session, so we are going to look at getting into the markets long on a close above resistance towards an upside target of 5220. A stop loss on the trade at 5175 looks good.

Looking the other way, if we see a close below support, we will enter short towards a downside target of 5130.

A team of seasoned film producers, distributors and software developers has announcedWhite Rabbit, a project seeking to monetize P2P streaming to the benefit of fans and filmmakers.

The project’s blog post states, with reference to British and Australian research, that 60% of those who watch movies illegally only do so because they cannot access the content legally, yet would happily pay if allowed to do so.

Another issue mentioned in the post is utter non-transparency of the entire revenue side of digital distribution.

“Blockchain and smart contracts will ensure that user payments go directly to the rights holders – without delay. This allows filmmakers to enjoy the immediate reward for their efforts while removing middlemen means the reward more is affordable for the fans,” the blog post reads.

Blockchain technology is capable of removing intermediaries from the equation, thus making things easier and more fair for those who create and produce films and TV series.

“This solution restores the balance in the entire content distribution industry; tackles the issue of video piracy and content availability; noticeably simplifies user experience; removes intermediaries and payment downtime from the equation; and, most importantly, establishes a foundation for a truly competitive environment. Not only that, but our smart contracts will enable all the rights holders of the film, to be paid their fair and agreed a share of the film’s revenue, each time someone streams the film. Less work, more play and more pay for everyone!”

The project’s team encompasses renowned filmmakers and software developers, including critically acclaimed film producer Alan R. Milligan, architect and seasoned programmer Alexander Yarushin, and Hengameh Panahi, a former partner at Mubi.com, among others. The team believes their solution will bring about a new reality of the way films and series are distributed and watched online.

“OTT services like Netflix have globalized digital streaming and created great content these last few years. Yet, they have not shown a sustainable business model and have therefore become studios competing directly with the films they used to buy. We are all in need of an open and competitive marketplace in digital distribution. With White Rabbit, we can offer a global, sustainable, transparent business model that also combats piracy without having to intimidate our fans — everyone wins, everyone is rewarded, ” says Alan R. Milligan, CEO, and founder of White Rabbit.

The project’s press release suggests that the team will hold a pre-sale followed by a contribution campaign scheduled for November 27th, to carry on with the development of White Rabbit.

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